PIIND.NSE

PI Industries Ltd.

Indian shares rose on Wednesday, snapping a three-day slide on expectations of progress in U.S.-China trade negotiations and an anticipated rate cut by the Reserve Bank of India later this week. The Nifty 50 rose 0.32% to 24,620.2, while the BSE Sensex added 0.32% to 80,998.25. Twelve of the 13 major sectors advanced on the day. The broader smallcaps and midcaps rose about 0.8% each. “Markets recovered on anticipated relief on the trade front ahead of the talks between U.S. President Donald Trump and China’s President Xi Jinping and expected rate cut by RBI on Friday,” said Devarsh Vakil, head of prime research at HDFC Securities. Trump said Xi Jinping is “tough” to negotiate with, days after alleging that China backtracked on tariff agreements. Washington pressed trade partners for proposals by Wednesday while higher U.S. duties on steel and aluminium imports took effect. Financials, IT weigh on Indian shares; Adani stocks fall on US probe report Asian shares edged up, with South Korea leading gains after liberal candidate Lee Jae-myung’s election win raised stimulus hopes.

PI Industries stock has staged a bullish breakout above ₹3,835 after a six-month correction. Analyst recommends a buy with near-term targets of ₹4,200–₹4,270.

Brokerage sees weak near-term growth trends but selective upside in key names; SRF underperforms amid valuation concerns

The benchmarks – BSE Sensex climbed 1,310 points or 1.77 per cent to 75,157, and NSE Nifty50 rose 429 points or 1.92 per cent to 22,828 – led by heavy buying across metal, pharma, and consumer durable counters. However, on a weekly basis, the Sensex and Nifty posted a decline of 0.27 per cent and 0.33 per cent, respectively. On Friday, from the Sensex pack, Tata Steel, Power Grid Corporation, NTPC, Mahindra & Mahindra, and Reliance Industries (RIL) were among the top gainers, with gains of up to 4.87 per cent. Conversely, Asian Paints and Tata Consultancy Services (TCS) were the only two Sensex stocks that ended lower, with losses of 0.76 per cent and 0.20 per cent, respectively. Small-cap shares outperformed others in the broader market, with the Nifty Smallcap100 index settling 2.88 per cent higher, led by Atul and Welspun Living, which ended up by as much as 11 per cent. The Nifty Midcap100 index also ended higher by 1.85 per cent, led by PI Industries and Dixon Technologies, whose shares rose by up to 9.84 per cent.

Speciality chemical stocks rebounded on April 11 after Trump paused tariffs on India for 90 days, with PI Industries shares rising over 7.4%. Other stocks also saw gains. However, concerns over potential Chinese dumping and tariff impacts on profitability persist in the sector.